Fill in the Blanks: Chapter Nineteen
1. With a ____________ job cost system , costs are gathered by job or order.
2. The cost of each job is accumulated on a separate ____________job cost sheet.
4. Materials are kept in a storeroom or warehouse and issued upon receipt of a ____________materials requisition.
5. Items not easily traced to individual jobs like sandpaper, lubricants, and so on are considered to be ____________indirect materials.
6. Labor costs are accumulated by means of ____________time sheets and labor summaries.
8. The applied overhead is credited to the ____________factory overhead account.
9. After recording actual and applied overhead in the factory overhead account, a resulting debit balance would indicate ____________underappliedfactory overhead.
10. The ____________cost of goods sold account is adjusted for under- or overapplied overhead.
11. ____________Cost drivers are the factors that cause specific costs to be incurred within an organization.
12. ____________Direct costs are those costs that are easily traced to a job and are charged to individual jobs that are worked on during the accounting period.